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." thank you. gregg: this lawmakers do not reach a deal with regard to the fiscal cliff cuts will go into the defense department. >> reporter: the whole package of spending cuts is $1.2 trillion, half to the defense department. the army, navy, air force marines would take equal cuts according to one analyst who says the impact on the military overall will be, quote, very serious. >> the pentagon and the departments are already in financial trouble, because there has already been a $480 billion cut that is being applied right now as we speak. to take another cut on top of that is devastating. >> reporter: it's not just the military itself that will take a hit, also the defense industry, defense contractors, private companies that do work for the pentagon. one democratic congressman in northern virginia whose district maybe hit the hardest by all of this says it could mean layoffs. >> the large defense contractors will probably be okay, they have significant cash reserves, most of them. the smaller contractors would have trouble getting their lines of credit extended, trouble keeping t
obama's cutting his hawaii vacation short, it turns out, to take on the fiscal cliff and crisis in washington. >>> also we're keeping an eye on new violence in syria. one of the regime's highest-ranking generals has actually switched sides. >>> plus, a newspaper actually lists the names and addresses of folks who hold gun permits. is that right or wrong? it's all "happening now." kelly: welcome, everyone. first, tracking a powerful winter storm moving across the one right now -- country right now, this hour, threatening travel plans for thousands of americans just trying to get home after the holidays. i'm kelly wright in for jon scott. jamie: i'm jamie colby, and patience is definitely going to pay this holiday day. the massive storm already blamed for at least three deaths down south, and it spawned more than 30 tornadoes, very unusual for this time of year, across four gulf states. take a look at. >> oh, my
would be spent on eliminating the fiscal cliff automatic spending cuts and extending unemployment checks. is it true not a dial would go to cutting the real problem, the debt and deficit? >> yeah. in one scenario that is absolutely the case. we shouldn't actually be surprised. it has been clear at least for a short amount of time that this hasn't been the goal of these discussions. i mean for all the talk about deficit reduction and despite the fact that this began as an effort to rein in spending after the 2010 elections, it is clear democrats in the house and senate, i would argue the president, haven't been serious about long-term spending cuts. gregg: maybe they're not serious, you know, they see a political benefit to literally going over the fiscal cliff? >> yeah. i think there's, obvious political incentive for the president to go over the fiscal cliff at this point. if you think where we will be in just two days, and you're the president of the united states looking back on this, taxes will have gone up, defense cuts his uniform military have warned against will begin to be imple
the markets, the stability, let the bush tax cuts --. gregg: last question, marjorie. the whole fiscal cliff crisis is all about finding a way to cut the $16 trillion plus debt. and yet the president is demanding new spending, more spending. is it no wonder that people think he is just not serious about this? >> well, i think it's a reexamination of spending. i think that is more realistic way to look at it. you can't cut specific programs. gregg: he is saying give me 50 billion more. >> we know that -- >> increasing is reevaluating it meaning to add more tonight. what we know over 60% of the americans don't want social security, they still want medicare. gregg: we are not taking away medicare and social security. >> marjorie we're sustaining them for future generations because they're on a path of unsustainability. >> you know what i'm going to do? get my little elf on the shelf and put them in the halls of congress and report back to santa all the bad behavior going on. we need compromise, no question. >> the grinch is in hawaii. gregg: if we could put you two together in a room i know we
Search Results 0 to 3 of about 4